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AEP Texas seeks OK that $415M of Harvey, other storm costs can be recovered

AEP Texas Inc. on Aug. 7 filed a request with the Public Utility Commission of Texas seeking a determination for eligibility to recover $415 million in transmission and distribution-related system restoration costs associated with Hurricane Harvey last year and earlier weather events.

The American Electric Power Co. Inc. subsidiary would like to recover approximately $295 million of distribution-related costs through a securitization process and $120 million in transmission-related costs through an existing interim transmission cost-of-service process and a future AEP Texas rate case. (PUCT Case No. 48577)

If costs are determined to be eligible for recovery, AEP Texas will file a separate proceeding including specific rates and tariffs.

The request focuses on the AEP Texas Central Division service territory, which includes 240 miles of coastal exposure on the Gulf Coast. The request will not impact customers in the AEP Texas North Division, which covers portions of the state's north and west panhandle regions.